Where Mifid II Goes Wrong on HFT
By Rob Daly
Published November 4 2011 Waters
Have you ever known from the outset that a business plan wouldn’t work? Either those who developed it did not think through the process entirely or they made assumptions that are totally detached from reality. The Markets in Financial Instruments Directive review (Mifid II) makes me wonder what regulators were thinking when it comes to high-frequency trading. In the entire 196-page document, high-frequency trading is mentioned a total of seven times in only four sections of the text.
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